KALEV

INCOME STATEMENT



UNCONSOLIDATED INCOME STATEMENT, Q1 2000



in EEK

                                     Kalev         Kalev

                                   Q1 1999       Q1 2000



NET SALES                        75,493,748    75,880,206



COST OF GOODS SOLD               57,825,610    53,210,466



GROSS PROFIT                     17,668,138    22,669,740



Marketing expenses                4,149,023     6,944,341

Administrative expenses           8,913,424     6,921,167

Other revenue                     7,083,854     3,526,061

Other expenses                    8,047,297     6,663,386



Operating profit                  3,642,248     5,666,907



FINANCIAL INCOME                  1,795,862     1,947,618

FINANCIAL EXPENSES                3,428,144     2,157,320



Net profit/loss                   2,009,965     5,457,205



Earnings per share                     0.26          0.69





Kristina Seimann

Public Relations Manager

+372 628 3858